Europe’s Sanctions on Russian Diesel Won’t Hit Until January

The European Union said a new set of measures aimed at restricting the flow of fuel made from Russian crude won’t take effect until January, easing some concerns that they would tighten a diesel market in the region that’s already soaring.

In legal texts, the EU said the ban will take effect on Jan. 21 next year and affect products obtained in a third country from Russian crude. It followed an announcement Friday that the group would press ahead with a restriction on the import of refined products, most notably diesel, that are produced in third countries using Russian barrels.